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May 15, 2020

Stimulus by FM on 15 May 2020 for Agri, Fisheries, & Allied Activities, amend Essential Commodities Act

by facelesscompliance in Compliance Law, Corporate Law

Stimulus by FM on 15 May 2020 for Agri, Fisheries, & Allied Activities, amend Essential Commodities Act

FM 3rd tranche will focus on agriculture, fisheries, dairy animal husbandry & allied activities. India is the largest milk producer, largest jute and pulses producer, 2nd largest in sugar cane, cotton, groundnut, fruits, vegetables and fisheries, 3rd in cereals. Indian farmer has really endured and made sure that he would give us the highest yield

It goes to the credit of our farmers that they almost concluded rabi crop harvest, many states have been successful in procurement, despite lockdown

FM will be announcing 11 measures today, 8 of them relating to strengthening infrastructure, capacity, logistics and 3 of them relate to governance and administrative reforms

FM recalls measures taken by Govt. to support farmers during #COVID19 lockdown

White heavy check mark₹ 74,300 crore Minimum Support Price purchases during lockdown
White heavy check mark₹ 18,700 crore transfer to farmers’ bank accounts
White heavy check mark₹ 6,400 crore PM Fasal Bima Yojana payment

1) New scheme has been launched for interest subvention @ 2% per annum to dairy cooperatives for 2020-21 aimed at unlocking Rs 5000 crores additional liquidity, benefitting 2 crore farmers

2) Funds transfer worth Rs 18,700 crores has been done under PM KISAN in past 2 months and PM Fasal Bima Yojana claims worth Rs 6,400 crores released in past 2 months: Union Minister

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3) Funds transfer worth Rs 18,700 crores has been done under PM KISAN in past 2 months and PM Fasal Bima Yojana claims worth Rs 6,400 crores released in past 2 months

4) To help Fisheries sector, operations of Marine Capture Fisheries and Aquaculture has been relaxed to cover Inland Fisheries

5) In a move to strenghten infrastructure in agriculture, financing facility of Rs. 1 lakh crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points

6) Aiming to implement PM’s vision of ‘Vocal for Local with Global outreach’, a scheme will be launched to help 2 lakh Micro Food Enterprises; Improved health and safety standards, integration with retail markets and improved incomes to be key focus areas

7) Government to launch Pradhan Mantri Matsya Sampada Yojana for integrated, sustainable, inclusive development of marine and inland fisheries to plug critical gaps in fisheries value chain; move will provide employment to over 55 lakh persons & double exports to Rs 1 lakh crore

8) National Animal Disease Control Programme has been launched with total outlay of Rs. 13,343 crores for 100% vaccination of cattle, buffalo, sheep, goat and pig population in India

9) Government announces an Animal Husbandry Infrastructure Development Fund worth Rs. 15,000 crore to support private investment in Dairy Processing, value addition and cattle feed infrastructure

10) To promote Herbal Cultivation in India Government commits Rs 4000 crore; move aims to cover 10 lakh hectare under herbal cultivation in 2 years; corridor of medicinal plants to come up across banks of Ganga

11) Government to implement a scheme for infrastructure development related to Beekeeping; aims to increase income for 2 lakh beekeepers with special thrust on capacity building of women

12) TOP to TOTAL In a major announcement, Government extends Operation Greens from Tomatoes, Onion and Potatoes (TOP) to ALL fruits and vegetables

13) Government will amend Essential Commodities Act to enable better price realisation for farmers; Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potato will be deregulated.

14) Government to bring in law to implement agriculture marketing reforms to provide marketing choices to farmers; law will provide adequate choices to farmer to sell produce at attractive price

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